Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (5) TMI 516 - KARNATAKA HIGH COURTExemption u/s 10(23C)(iiiab) - denial of exemption as assessee is neither a University nor educational institution existing solely for educational purposes - Addition deleted by ITAT - HELD THAT:- The Supreme Court in ASSAM TEXT BOOK PRODUCTION AND PUBLICATION CORPORATION LTD. [2009 (10) TMI 60 - SUPREME COURT] has interpreted the definition of an educational institution and it is evident that all State controlled educational committees / boards that have been constituted to implement the educational policy of the States have to be treated as educational institutions. From enunciation of law by the Supreme Court, the assessee, which has been constituted to implement the educational policy of the State has to be treated as an educational institution and is consequently entitled to the benefit of exemption under Section 10(22) of the Act. In view of preceding analysis, the substantial questions of law framed by this court are answered against revenue.
|